BUSINESS
Heidelberg exploring sale of India business; taps Adani, UltraTech and JSW Cement
Germany's Heidelberg owns 69.39 percent of HeidelbergCement India, which is listed on the local stock exchanges
BUSINESS
Shapoorji Pallonji Group seeks waivers from lenders for launch of Afcons pre-IPO and IPO share sale
On October 1, Moneycontrol reported that SP Group altered its plans for the IPO of Afcons. Now, it plans raise up to Rs 4,000 crore in a pre-IPO round and around Rs 4,500 crore in the IPO. Earlier, the plan was to raise Rs 7,000 crore in the IPO.
BUSINESS
With refinancing done, focus will now be on debt reduction: Biocon Biologics CFO
The funds raised will go a long way towards helping the company repay the debt it had taken on for the acquisition of Viatris Inc's biosimilars portfolio for over $3 billion.
BUSINESS
Hyundai Motor India likely to launch $3-billion IPO on October 14
The dates for the IPO are almost final, barring any unforeseen turn in market sentiment because of escalating tensions in West Asia, sources say
BUSINESS
Successful tech IPOs revive VCs' optimism; AI attracts key investments: Stellaris Venture Partners
Long-term investment strategies, especially in early-stage start-ups, hold the key for VC firms, says Rahul Chowdhri, Partner, Stellaris Venture Partners.
BUSINESS
Apollo Hospitals in talks to sell stake in multispecialty clinics chain, IFC to exit
IFC owns around 31 percent in the company and first invested in the Apollo subsidiary in 2016
BUSINESS
India Inc fears crude oil rise, supply chain disruptions but impact likely to be limited
The price of crude oil rose over 3% on October 2 on output concerns following Iran's biggest military blow against Israel, according to a Reuters report.
BUSINESS
SP Group may upsize Afcons Infrastructure IPO plan to Rs 8,500 crore
The group's move to boost Afcons IPO size comes as it negotiates with lenders to refinance debt. A bigger fundraise will help the group better manage its debt obligations
BUSINESS
Swiggy provides special indemnities to directors of SoftBank, Accel and Prosus, ahead of IPO
Prosus owns 30.95%, while SoftBank and Accel own 7.75% and 6.08%, respectively, of Swiggy. Prosus is eligible to nominate two board members, while SoftBank and Accel can name one each.
BUSINESS
Shapoorji Pallonji gets bondholders' approval to postpone Rs 1,800 cr interest payment to December end
In June last year, SP Group entity Goswami Infratech raised Rs 14,300 crore through rupee-denominated zero-coupon NCDs from a group of investors, including Cerberus Capital, Varde Partners, Canyon Capital, Davidson Kempner and others. SP Group had to make an interest payment of close to Rs 1,800 crore on these NCDs by September 30.
BUSINESS
SEBI objects to use of IPO proceeds for paying back promoter loans
IPOs of some companies are facing delays as SEBI expects them to change the use of proceeds or repay promoter loans using other financing routes, sources say
BUSINESS
AAI set to receive Rs 2,800 crore from Adani group towards payments linked to privatised airports
Payments because of under recovery of revenue in the period when AAI owned the airports
BUSINESS
Alkem promoter stake sale aimed at JB Chemicals bid
At current market prices, KKR’s 53.77 percent stake in JB Pharma is worth about Rs 15,500 crore
BUSINESS
Bound for IPO, Brookfield-run Leela plans hotels in spiritual, wildlife tourism segments
As of May 31, 2024, Leela’s portfolio comprised 3,382 hotel rooms across 12 properties under three formats - Leela Palaces, Leela Hotels and Leela Resorts.
BUSINESS
Anand Rathi eyes Rs 1,000 cr IPO; first brokerage firm to go public since 2020
The IPO proposal comes as Indian stocks rally to new records, buoyed by robust domestic institutional and retail investments, despite global economic challenges.
BUSINESS
US Fed rate cut to spur more Indian corporates to tap offshore bond markets
Fed chairman Jerome Powell delivered the large 50 bps rate cut, driven by the increased confidence that the US' long battle with inflation had come to an end.
BUSINESS
Shapoorji seeks Rs 2,000 crore from Davidson Kempner, Deutsche Bank to make interest payments
The talks for raising additional debt come as the group seeks more time for interest payment of Rs 1,800 crore on the debt facility raised by group entity Goswami Infratech
BUSINESS
Blackstone-TPG owned Care Hospitals in advanced talks for merger with Aster DM Healthcare
The merged entity will rank among the top three hospital chains in India, in terms of number of beds, along with Apollo Hospitals and Manipal Hospitals
BUSINESS
Carlyle's dividend haul from Hexaware touches Rs 1,380 crore in three years since its acquisition
Hexaware's Rs 530.8 crore dividend payout in 2023 beats Wipro, ICICI Lombard, and Godrej Consumer and would rank it 34th among BSE 100 index members if it were a publicly traded company.
BUSINESS
GSK Velu’s Neuberg Diagnostics in talks with 360One, M&G Investments for $100 mn pre-IPO fundraise
Neuberg had hired investment bank o3 Capital to help raise funds from private equity investors, Moneycontrol reported on 17 April.
BUSINESS
QIPs lead the show as real estate sector sees 17-year-high equity fundraising
Real estate developers raised Rs 11,746 crore through the QIP route tnis year, which is an all-time high. In fact, 2024 is the second-best year as far as overall equity issuances are concerned, after 2007.
BUSINESS
Alkem promoters may sell stake; tap PE firms KKR, Blackstone, EQT
Alkem's promoters, with a 56.38% stake worth about Rs 42,280 crore, have hired Nomura as the banker for the stake sale.
BUSINESS
Panchshil-Blackstone hotel JV Ventive Hospitality files DRHP for Rs 2,000 cr IPO
Moneycontrol first reported on September 9 that Ventive was looking to file its draft red herring prospectus with the markets regulator this week.
BUSINESS
Solar panel maker Saatvik may go public next fiscal, plans Rs 1,500 cr capex
With the additional capacity, the company expects its revenue to increase to Rs 1,800-2,000 crore this financial year from Rs 1,100 crore last year. Saatvik is alsp planning a foray into newer areas like green hydrogen.
